DraftKings Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), DraftKings Inc. reported revenue of $6.1B (+27.0% year on year) and net income of $3.7M (+100.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $6.1B | $4.8B | $3.7B | $2.2B |
| Cost of revenue | $3.6B | $3.0B | $2.3B | $1.5B |
| Sales and marketing | $1.4B | $1.3B | $1.2B | $1.2B |
| Product and technology | $459.9M | $397.1M | $355.2M | $318.2M |
| General and administrative | $673.6M | $764.1M | $606.6M | $763.7M |
| Income (loss) from operations | ($15.8M) | ($609.0M) | ($789.2M) | ($1.5B) |
| Interest income (expense), net | ($19.9M) | — | — | $18.7M |
| Gain (loss) on remeasurement of warrant liabilities | $4.7M | ($4.9M) | ($57.5M) | $29.4M |
| Other gain (loss), net | $38.0M | ($23.5M) | ($224.0K) | $20.7M |
| Income (loss) before income tax and equity method investments | $7.0M | ($593.2M) | ($791.3M) | ($1.4B) |
| Income tax provision (benefit) | $4.3M | ($86.3M) | $10.2M | ($67.9M) |
| (Gain) loss from equity method investments | ($971.0K) | $468.0K | $719.0K | $2.9M |
| Net income (loss) attributable to common stockholders | $3.7M | ($507.3M) | ($802.1M) | ($1.4B) |
| Basic (in dollars per share) | $0.01 | -$1.05 | -$1.73 | -$3.16 |
| Diluted (in dollars per share) | -$0.01 | -$1.05 | -$1.73 | -$3.16 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $1.4B | $1.6B | $1.1B | $1.5B |
| Cost of revenue | $891.8M | $949.4M | $784.1M | $854.6M |
| Sales and marketing | $322.5M | $401.7M | $360.4M | $233.2M |
| Product and technology | $127.6M | $123.2M | $114.7M | $108.4M |
| General and administrative | $169.4M | $165.9M | $156.8M | $165.7M |
| Income (loss) from operations | ($68.2M) | $5.8M | ($271.9M) | $150.6M |
| Interest (income) expense, net | ($7.4M) | ($5.7M) | ($19.6M) | — |
| Gain (loss) on remeasurement of warrant liabilities | $0 | $0 | $4.2M | ($5.9M) |
| Other gain (loss), net | $3.8M | $22.8M | $16.7M | $24.5M |
| Income (loss) before income tax and equity method investments | ($71.9M) | $22.9M | ($270.5M) | $169.9M |
| Income tax provision (benefit) | ($1.8M) | $6.4M | ($12.1M) | $11.8M |
| (Gain) loss from equity method investments | ($2.5M) | ($4.5M) | ($1.7M) | $191.0K |
| Net income (loss) attributable to common stockholders | ($67.6M) | $21.1M | ($256.8M) | $157.9M |
| Basic (in dollars per share) | -$0.14 | $0.04 | -$0.52 | $0.32 |
| Diluted (in dollars per share) | -$0.14 | $0.03 | -$0.52 | $0.30 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $1.1B | $788.3M | $1.3B | $1.3B |
| Restricted cash | $7.6M | $16.5M | $11.7M | — |
| Cash reserved for users | $469.4M | $525.4M | $341.3M | $469.7M |
| Accounts receivable | $105.6M | $57.8M | $47.5M | $51.1M |
| Prepaid expenses and other current assets | $104.8M | $83.2M | $98.6M | $94.8M |
| Total current assets | $1.8B | $1.5B | $2.1B | $2.1B |
| Property and equipment, net | $51.1M | $50.5M | $60.7M | $60.1M |
| Intangible assets, net | $889.2M | $933.1M | $690.6M | $776.9M |
| Goodwill | $1.6B | $1.6B | $886.4M | $886.4M |
| Operating lease right-of-use assets | $49.8M | $74.9M | $94.0M | $66.0M |
| Equity method investments | $18.9M | $13.2M | $10.3M | $10.1M |
| Deposits and other non-current assets | $109.1M | $123.1M | $131.5M | $155.9M |
| Total assets | $4.5B | $4.3B | $3.9B | $4.0B |
| Accounts payable and accrued expenses | $785.4M | $661.2M | $639.6M | $517.6M |
| Liabilities to users | $935.0M | $979.5M | $851.9M | $686.2M |
| Operating lease liabilities, current portion | $9.8M | $11.0M | $11.5M | $4.3M |
| Other current liabilities | $25.2M | $3.3M | $46.6M | $38.4M |
| Total current liabilities | $1.8B | $1.7B | $1.5B | $1.2B |
| Convertible notes, net of issuance costs | $1.3B | $1.3B | $1.3B | $1.3B |
| Term B Loan, net of issuance costs | $576.5M | — | — | — |
| Operating lease liabilities | $44.4M | $67.7M | $80.8M | $69.3M |
| Warrant liabilities | 0 | 22.0M | 63.6M | 10.7M |
| Long-term income tax liabilities | $91.6M | $76.4M | $72.8M | $69.9M |
| Other long-term liabilities | $172.2M | $195.6M | $84.0M | $70.0M |
| Total liabilities | $3.9B | $3.3B | $3.1B | $2.7B |
| Common stock | $91.0K | $87.0K | $85.0K | $84.0K |
| Treasury stock, at cost; 38,243 and 15,651 shares as of December 31, 2025 and 2024, respectively | -1.4B | -563.1M | -412.2M | — |
| Additional paid-in capital | $8.4B | $8.0B | $7.1B | $6.8B |
| Accumulated deficit | ($6.4B) | ($6.4B) | ($5.9B) | ($5.1B) |
| Accumulated other comprehensive income | $36.5M | $36.5M | $36.5M | $36.5M |
| Total stockholders’ equity | $631.5M | $1.0B | $840.3M | $1.3B |
| Total liabilities and stockholders’ equity | $4.5B | $4.3B | $3.9B | $4.0B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $983.9M | $999.4M | $1.2B | $1.3B |
| Restricted cash | $8.6M | $8.7M | $4.6M | $4.6M |
| Cash reserved for users | $395.0M | $378.7M | $475.3M | $297.4M |
| Accounts receivable | $82.1M | $86.1M | $65.6M | $69.0M |
| Prepaid expenses and other current assets | $107.4M | $104.8M | $115.4M | $86.2M |
| Total current assets | $1.6B | $1.6B | $1.9B | $1.8B |
| Property and equipment, net | $52.7M | $53.2M | $52.1M | $53.2M |
| Intangible assets, net | $837.4M | $868.1M | $861.0M | $880.0M |
| Goodwill | $1.6B | $1.6B | $1.6B | $1.6B |
| Operating lease right-of-use assets | $76.8M | $78.4M | $66.1M | $69.1M |
| Equity method investments | $30.3M | $26.1M | $19.4M | $13.9M |
| Deposits and other non-current assets | $105.5M | $106.4M | $125.5M | $116.3M |
| Total assets | $4.3B | $4.3B | $4.6B | $4.5B |
| Accounts payable and accrued expenses | $689.2M | $704.0M | $711.4M | $553.2M |
| Liabilities to users | $840.3M | $811.6M | $1.0B | $725.0M |
| Operating lease liabilities, current portion | $9.7M | $10.9M | $11.5M | $11.4M |
| Other current liabilities | $11.4M | $21.9M | $31.1M | $45.1M |
| Total current liabilities | $1.6B | $1.5B | $1.8B | $1.3B |
| Convertible notes, net of issuance costs | $1.3B | $1.3B | $1.3B | $1.3B |
| Term B Loan, net of issuance costs | $574.6M | $575.6M | $577.5M | $578.5M |
| Operating lease liabilities | $71.3M | $71.6M | $59.2M | $62.3M |
| Long-term income tax liabilities | $101.0M | $92.9M | $88.0M | $84.3M |
| Other long-term liabilities | $150.0M | $154.2M | $125.1M | $133.0M |
| Total liabilities | $3.7B | $3.7B | $3.9B | $3.5B |
| Common stock | $92.0K | $92.0K | $87.0K | $87.0K |
| Treasury stock, at cost; 45,525 and 38,243 shares as of June 30, 2026 and December 31, 2025, respectively | -1.6B | -1.5B | -1.0B | -907.7M |
| Additional paid-in capital | $8.6B | $8.5B | $8.3B | $8.2B |
| Accumulated deficit | ($6.5B) | ($6.4B) | ($6.6B) | ($6.3B) |
| Accumulated other comprehensive income | $36.5M | $36.5M | $36.5M | $36.5M |
| Total stockholders’ equity | $569.4M | $605.0M | $732.3M | $1.0B |
| Total liabilities and stockholders’ equity | $4.3B | $4.3B | $4.6B | $4.5B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net loss attributable to common stockholders | $3.7M | ($507.3M) | ($802.1M) | ($1.4B) |
| Depreciation and amortization | $275.5M | $270.9M | $201.9M | $169.3M |
| Non-cash interest (income) expense, net | $2.3M | ($15.0K) | — | — |
| Stock-based compensation expense | $339.3M | $381.4M | $398.5M | $578.8M |
| (Gain) loss on remeasurement of warrant liabilities | ($4.7M) | $4.9M | $57.5M | ($29.4M) |
| (Gain) loss from equity method investment | ($971.0K) | $468.0K | $719.0K | $2.9M |
| (Gain) loss on marketable equity securities and other financial assets, net | $4.4M | $12.9M | $75.0K | ($11.0M) |
| Loss on sale of Vegas Sports Information Network, LLC | $0 | $5.9M | — | — |
| Deferred income taxes | ($18.2M) | ($92.7M) | $5.8M | ($73.4M) |
| Other non-cash (gain) loss, net | ($35.8M) | $6.3M | $554.0K | ($7.3M) |
| Receivables reserved for users | $60.7M | $248.3M | ($141.7M) | ($105.3M) |
| Accounts receivable | ($57.7M) | ($10.1M) | $3.6M | $2.5M |
| Prepaid expenses and other current assets | ($16.4M) | ($26.3M) | $2.5M | ($26.2M) |
| Deposits and other non-current assets | $1.9M | $1.7M | ($19.4M) | ($4.9M) |
| Operating leases, net | $0 | $130.0K | $6.6M | $1.3M |
| Accounts payable and accrued expenses | $132.2M | ($18.2M) | $103.6M | $95.3M |
| Liabilities to users | ($44.5M) | $110.7M | $165.7M | $153.0M |
| Long-term income tax liability | $15.2M | $3.6M | $3.0M | ($9.3M) |
| Other long-term liabilities | $5.9M | $25.3M | $11.1M | $15.4M |
| Net cash flows provided by (used in) operating activities | $662.9M | $417.8M | ($1.8M) | ($625.5M) |
| Purchases of property and equipment | ($15.4M) | ($10.2M) | ($20.9M) | ($32.4M) |
| Cash paid for internally developed software costs | ($131.2M) | ($95.7M) | ($80.4M) | ($64.0M) |
| Cash paid for gaming market access and licenses | ($8.0M) | ($15.0M) | ($12.1M) | ($7.2M) |
| Proceeds from marketable equity securities and other financial assets | $0 | $0 | $24.4M | — |
| Cash paid for acquisitions, net of cash acquired | ($16.4M) | ($441.5M) | $0 | ($96.5M) |
| Collection of loan receivable | $11.8M | — | — | — |
| Other investing activities | ($6.9M) | ($4.3M) | ($1.4M) | ($8.6M) |
| Net cash flows provided by (used in) investing activities | ($166.0M) | ($566.6M) | ($90.4M) | ($208.8M) |
| Proceeds from Term B Loan, net | $588.1M | — | — | — |
| Repayment of Term B Loan principal | ($4.5M) | — | — | — |
| Proceeds from exercise of warrants | $0 | $0 | $288.0K | $44.0K |
| Purchase of treasury stock for RSU withholding | ($257.8M) | ($102.9M) | — | — |
| Proceeds from exercise of stock options | $10.6M | $9.2M | $16.5M | $8.7M |
| Purchase of treasury stock under Stock Repurchase Program | ($571.5M) | ($48.1M) | ($80.0M) | ($25.5M) |
| Proceeds from shares issued under Employee Stock Purchase Plan | 15.2M | — | — | — |
| Other financing activities | ($2.6M) | ($2.7M) | $0 | $0 |
| Net cash flows provided by (used in) financing activities | ($222.5M) | ($144.5M) | ($63.2M) | ($16.7M) |
| Net increase (decrease) in cash and cash equivalents, restricted cash, and cash reserved for users | $274.4M | ($293.3M) | ($155.3M) | ($851.0M) |
| Cash and cash equivalents, restricted cash, and cash reserved for users at the beginning of period | $1.3B | $1.6B | $1.8B | $2.6B |
| Cash and cash equivalents | $1.1B | $788.3M | $1.3B | $1.3B |
| Restricted cash | $7.6M | $16.5M | $11.7M | — |
| Cash reserved for users | $469.4M | $525.4M | $341.3M | $469.7M |
| Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period | $1.6B | $1.3B | $1.6B | — |
| Investing activities included in accounts payable and accrued expenses | $0 | $3.5M | $569.0K | $9.2M |
| Equity consideration issued for acquisitions | $28.7M | $376.7M | $0 | $460.1M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income (loss) attributable to common stockholders | ($46.5M) | $21.1M | ($132.7M) | $124.1M |
| Depreciation and amortization | $152.0M | $71.7M | $201.5M | $135.4M |
| Non-cash interest (income) expense, net | $2.5M | $1.3M | $1.7M | — |
| Stock-based compensation | $147.8M | $65.2M | $236.0M | $163.5M |
| (Gain) loss on remeasurement of warrant liabilities | $0 | $0 | ($877.0K) | $3.4M |
| (Gain) loss from equity method investments | ($7.0M) | ($4.5M) | ($1.4M) | $236.0K |
| Deferred income taxes | ($215.0K) | ($215.0K) | ($3.5M) | $96.0K |
| Other non-cash (gain) loss, net | ($26.3M) | ($22.7M) | ($34.9M) | ($16.4M) |
| Accounts receivable | $23.5M | $19.5M | ($17.7M) | ($11.1M) |
| Prepaid expenses and other current assets | ($4.0M) | $46.0K | ($31.7M) | ($2.5M) |
| Deposits and other non-current assets | $2.2M | $1.1M | $3.5M | $2.8M |
| Accounts payable and accrued expenses | ($95.7M) | ($81.0M) | $55.0M | ($98.4M) |
| Liabilities to users | ($94.7M) | ($123.4M) | $42.9M | ($254.5M) |
| Long-term income tax liability | $9.3M | $1.3M | $11.7M | $8.0M |
| Other long-term liabilities | $240.0K | $2.1M | $6.4M | $4.6M |
| Net cash flows provided by (used in) operating activities | $63.0M | ($48.4M) | $342.4M | $54.9M |
| Purchases of property and equipment | ($11.7M) | ($7.1M) | ($11.4M) | ($7.0M) |
| Cash paid for internally developed software costs | ($75.1M) | ($37.1M) | ($93.4M) | ($60.4M) |
| Cash paid for gaming market access and licenses | ($2.0M) | ($1.1M) | ($4.3M) | ($2.2M) |
| Other investing activities | ($4.7M) | ($3.0M) | ($6.9M) | ($4.7M) |
| Net cash flows provided by (used in) investing activities | ($93.4M) | ($48.2M) | ($116.1M) | ($74.3M) |
| Proceeds from Term B Loan, net | $0 | $0 | $588.1M | $588.1M |
| Repayment of Term B Loan principal | ($3.0M) | ($1.5M) | ($3.0M) | ($1.5M) |
| Purchase of treasury stock for RSU withholding | ($43.5M) | ($24.3M) | ($133.5M) | ($101.9M) |
| Purchase of treasury stock under Stock Repurchase Program | ($154.2M) | ($98.6M) | ($314.0M) | ($242.7M) |
| Proceeds from exercise of stock options | $4.1M | $3.3M | $9.2M | $6.3M |
| Proceeds from shares issued under Employee Stock Purchase Plan | 10.0M | — | 6.9M | 6.9M |
| Other financing activities | $0 | $0 | ($2.1M) | ($2.1M) |
| Net cash flows provided by (used in) financing activities | ($186.6M) | ($121.1M) | $151.7M | $253.1M |
| Net increase (decrease) in cash and cash equivalents, restricted cash, and cash reserved for users | ($217.1M) | ($217.8M) | $378.0M | $233.8M |
| Cash and cash equivalents, restricted cash, and cash reserved for users at the beginning of period | $1.6B | $1.6B | $1.3B | $1.3B |
| Cash and cash equivalents | $983.9M | $999.4M | $1.2B | $1.3B |
| Restricted cash | $8.6M | $8.7M | $4.6M | $4.6M |
| Cash reserved for users | $395.0M | $378.7M | $475.3M | $297.4M |
| Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period | $1.4B | $1.4B | $1.7B | $1.6B |
| Decrease in warrant liabilities from cashless exercise of warrants | $0 | $0 | $13.8M | $11.2M |
| Shares issued for contingent consideration | 9.4M | — | 5.0M | 5.0M |
| Stock-based compensation capitalized to internally developed software costs | $13.6M | $7.1M | $17.5M | — |
| (Decrease) increase in cash reserved for users | ($74.4M) | ($90.8M) | ($50.1M) | ($228.0M) |
| Cash paid for interest | $17.6M | $8.2M | $18.6M | $2.2M |
| Cash paid for income taxes, net of refunds | $2.4M | $412.0K | — | — |
DraftKings Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.